Average Inventory at Cost: $18,127

Average Inventory at Retail: $24,870

Cost of Goods Sold: $46,971

Retail Sales: $63,410

Find the stock turnover at retail. Round to the nearest hundredth.

2.55

Step-by-step explanation:

Given that average inventory at cost = 18127/-

Cost of goods sold = 46971

Hence stock turnover ratio at cost = cost of goods sold/average inventory

= 46971/18127 = 2.59

There is another method also to calculate stock inventory ratio

Stock inventory ratio = Retail sales/Average inventory at retail

=63410/24870

=2.5496

=2.55

Since our question asks stock turnover at retail we get answer as

2.55